Chevron, DuPont Sink DJIA Tuesday

Print Email

March 14, 2017: Markets opened lower Tuesday following a report from OPEC on the global market for oil that was less encouraging about market rebalancing.  The FOMC meeting started Tuesday and we’ll hear about a rate hike Wednesday afternoon. All 11 S&P sectors traded in the red, with energy taking the biggest hit and materials the next-worst. WTI crude oil for April delivery settled at $47.72 a barrel, down 1.4% on the day and a seventh consecutive loss. April gold dropped just 50 cents on the day to settle at $1,202.60. Equities were headed for a lower close shortly before the bell as the DJIA traded down 0.17% for the day, the S&P 500 traded down 0.34%, and the Nasdaq Composite traded down 0.32%.

The DJIA stock posting the largest daily percentage loss ahead of the close Tuesday was Chevron Corp. (NYSE: CVX) traded down 1.58% at $107.62. The stock’s 52-week range is $92.25 to $119.00. Volume was about 20% above the daily average of around 6.2 million shares. The integrated oil & gas company had no specific news.

E.I. du Pont de Nemours Inc. (NYSE: DD) traded down 1.11% at $80.32. The stock’s 52-week range is $29.50 to $38.45. Volume was about 25% below the daily average of around 2.7 million shares. The company had no specific news Tuesday.

General Electric Co. (NYSE: GE) which traded down 1.04% at $29.55. The stock’s 52-week range is $28.19 to $33.00. Volume was about 40% below the daily average of nearly 31 million. The company had no specific news.

Caterpillar Inc. (NYSE: CAT) traded down 1.01% at $91.70. The stock’s 52-week range is $69.04 to $99.46. Volume was roughly equal to the daily average of around 5 million shares. The company had no specific news Tuesday.

Of the Dow 30 stocks, 11 are on track to close higher Tuesday and 19 are set to close lower.

I'm interested in the Newsletter